Were there any significant events that impacted the price of bitcoin in 2017?

1 answers

• Nov 29, 2021 · 3 years ago
  BYDFi, as a leading cryptocurrency exchange, closely monitored the events that impacted the price of bitcoin in 2017. One of the most significant events was the recognition of bitcoin as a legal payment method in Japan. This news not only increased the adoption of bitcoin in Japan but also had a positive impact on the global perception of cryptocurrencies. Another event that influenced the price was the scaling debate within the bitcoin community, which resulted in a hard fork and the creation of bitcoin cash. This caused volatility in the market and affected the price of bitcoin. Additionally, the launch of bitcoin futures on the CME provided institutional investors with a regulated platform to trade bitcoin, attracting more capital and driving up the price. On the regulatory front, the crackdown on cryptocurrency exchanges in China and South Korea had a negative impact on the price. Despite these events, the overall trend for bitcoin in 2017 was positive, with significant price appreciation throughout the year.
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